It's not a one-way street. Many wealthy and upper middle class Americans buy 2nd homes and retirement homes in other countries. If fact, I would bet that more Americans buy foreign property than foreigners buy American property.

I would like to know what the term, "Single Family Dwelling" means? I have always understood it to mean, 1 single family - not a family with brothers, sisters, aunts uncles, nieces, nephews, cousins, brother - in - laws, sister - in - laws and grandparents all in the same house. A "Single Family Dwelling" should be just that, one single family. Husband, Wife and children if they have any. No wonder all the foreigners can come over and purchase a home - and usually with cash as they all pool their money and ALL live in the same house!

The "American Dream" is being redefined. Many Americans but not all that work hard are able to purchase homes. Some relocate and live more within their means. Not everybody needs maids, a spacious yard/swimming pools, fur coats, ski trips abroad, 2,000 purses and 50,000 pairs of shoes...the latest fashion...NOT! not even a solid 24k gold toilet is necessary anymore!

The practical folks survive, live within their means, eat well, receive excellent medical care, participate in community/national political and extend a helping hand to others less fortunate, and enjoy this one time around life with family, friends, community.

Posted by kbenson
a resident of Bordeaux Estates
on Jul 23, 2014 at 11:19 am

With the influx of people coming to America from South America, I would think property in South America would be bargain priced. Dependent on the location, I would not mind living in oh say.... Costa Rica =)

Posted by digitalFlack
a resident of Stoneridge
on Jul 23, 2014 at 11:40 am

So, I went to the referenced National Association of Realtors 2014 Profile of International Home Buying Activity:

Numbers much less scary.

Of the $1.2 trillion sold in the previous four quarters, about 7% were sold to foreigners. Of those foreigners the statistics indicate 25% are Canadians and Brits buying vacation/retirement homes.

Doing the math on the Realtor website (without boring you) approximately 1% of housing sales in the US (last 12 months) were to foreign investors buying as investment. The rest were residences purchased by foreign residents (i.e. not naturalized people).

According to usGovInfo website 13% of the people in the United States were born abroad... some of them are getting enough money to buy a house now.

Posted by Henry
a resident of Pleasanton Valley
on Jul 23, 2014 at 1:05 pm

Migration has always been part of the human condition from the first Homo Sapiens leaving Africa 60,000 years or so ago. My parents came to the U.S. from Europe in the 1920s for economic reasons. A close relative emigrated to the U.S. as part of the Bering land bridge migration around 10,000 years ago. My parents sold their place up north and moved to South Texas on the border to have an inexpensive and rewarding retirement. Friends here in the Tri-Valley have retired to Peru, Ecuador, Costa Rica and Belize, using their home sale proceeds in the last year, all sales coincidentally to Asian migrants paying cash. People move. If the drought continues for another 5-10 years, we'll all become like the Okies of the Dust Bowl days. I only hope the borders are open to the south and north then so we can migrate to the water.